Our Daily
Market Reports

Closing Gold & Silver Market Report – 2/21/2010

At 12PM (CT) the APMEX precious metals prices were:

  • Gold – $1,407.50
  • Silver – $33.95
  • Platinum – $1,854.00
  • Palladium – $861.00

COMMENTARY:  Since the precious metals market was closed at 12:15 (CT) the prices have held steady, allowing people to take advantage of the prices after such a sharp rise on the morning. Gold has risen above the predicted $1400 mark (the first time in seven weeks) while silver has soared and begun to close the gap between itself and gold, bringing the ratio to its lowest since 1998. One reason precious metals have been on the sharp rise has been due to the chaotic protests in Egypt and Tunisia where protests have unseated leaders for the past month or so and continues to spread throughout the Middle East, threatening all other autocratic leaders. (i.e. violence gets worse in Libya as protestors claim control over their second-largest-city, killing over 300)

Another piece of information that has taken a back-seat to the news of the Middle East is our Federal Government has one week to agree to a budget and make a decision on raising the debt limit or the government will be forced to shut down. Although the G20 seemed to go smoothly over the weekend, there are still hidden tensions with China that will soon have to be faced.

Silver prices are rising fast, take advantage of the 100 oz silver bars while they are still in stock!

Gold spot price is up $18.40 on the day.  Silver spot price is up $1.58.  Platinum spot price is up $10.70.  Palladium spot price is up $1.30.

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Disclaimer:
APMEX’s ‘Market Reports’ provide our readers with a review of spot price activity and some of the factors that may be affecting the market for precious metals, three times during the trading day. While the information is obtained from sources we believe to be reliable, we do not guarantee its accuracy or its completeness and we encourage you to conduct your own investigation prior to making any decision based on the information. The "News and Commentaries" are not intended as a comprehensive discussion and there may be other factors that may be affecting the financial marketplace. These "News and Commentaries" are provided for informational purposes only and do not constitute a recommendation by APMEX to hold, to purchase or to sell any precious metal product. All orders, all purchases and all sales, if any, are subject to the terms of the User Agreement and other applicable policies.

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